Japan Makes Polished Diamond Imports Turnaround

In November, Japan imported 189,764 carats of polished worth $57.9 million, an increase of 10.5 percent and 12.6 percent, respectively, over imports in November 2009, based on data published by Momozawa & Co., Inc.

November’s imports exceeded imports in November 2008 as well, but not November 2007, when imports were exceptionally high, $75 million. Year-over-year, imports increased 11.4 percent to $641.7 million.

While imports increased in total value and volume, the average value of imports is declining; decreasing 1.9 percent to $ $305.09 p/c. Year-to-date, the average value of imports contracted 0.5 percent to $286.11 p/c.

India supplied Japan with $24.5 million worth of polished, nearly flat with last year, softening 0.6 percent. Imports from Belgium, $10.4 million, declined 16 percent. While the two leading sources lost market share, Israel improved its footing, increaasing its supplies by 46.4 percent to $7 million.